Legal Question in Business Law in Minnesota

what determines what is a binding contract ?

I bought a truck at a local dealer.They checked my credit,I had told them it was not very good.I provided two years of tax returns as reqwested.They approved the loan and three days later I signed the papers and picked up my truck.I allso gave them a 750.00 down payment + a 4000.00 rebate toward the down payment. Three weeks later,I had allready got my plates and added 1500.00 in assories,the dealer called and said the loan didnt go thru,I would need a cosigner or bring back the truck.Are the papers I signed a legal contract that are binding to them as well as me?


Asked on 10/16/03, 7:21 pm

1 Answer from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Re: what determines what is a binding contract ?

The paperwork from a transaction such as you descripe gets to be several pages of material, some of it required by law, some not. In any event, I can't figure out from your question exactly what you may have gotten yourself into - and judging by the fact that no other attorneys seem to be trying to answer your question - I don't think anyone else can figure it out either.

Yes - whatever the contract is - it should bind the dealership as well as you. What exactly is going on? I can't tell without seeing your contract and the related paperwork.

Get your butt to a law office. See a lawyer as soon as you can. Have the paperwork reviewed. That's what we're here for.

It won't be free, but it could be cheap.

Good luck.

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Answered on 10/17/03, 11:17 am


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